- Associated Press - Monday, January 30, 2017

TRENTON, N.J. (AP) - Legislation to regulate and tax daily fantasy sports in New Jersey has advanced in the Assembly.

An Assembly committee on Monday approved the legislation that would impose a quarterly fee of 10.5 percent of gross revenues on all daily fantasy sports providers

The legislation, sponsored by Democratic Assemblymen Vince Mazzeo, Ralph Caputo and John Burzichelli, wouldn’t regulate small-scale season-long fantasy sports.

The bill calls for the Division of Consumer of Affairs to issue permits to fantasy sports operators including casino licensees and racetracks.

Senators have advanced a different bill that adds consumer protections and imposes a 9.25 percent tax rate on daily fantasy sports companies’ gross revenue.

New York enacted legislation last year to tax revenue from the games. About 30 states have introduced bills to regulate daily fantasy sports.



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